Larry Page Slams Silicon Valley, Says It's Not Chasing Big Enough Ideas
AP
Google CEO Larry Page
In an interview with The Financial Times' Richard Waters, Page estimates that only about 50 investors are putting their money in big, important ideas.
"You can make an internet company with 10 people and it can have billions of users. It doesn't take much capital and it makes a lot of money - a really, really lot of money - so it's natural for everyone to focus on those kinds of things," he said.
Page also said that the problem is that not enough people are ambitious enough. Breakthrough technologies aren't being held back by any big technical hurdles, but by not having enough people working on them.
Google, for its part, just announced a new project to create magnetic nanoparticles that will search for disease inside your body.
Next Story
I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
Audi to hike vehicle prices by up to 2% from June
Kotak Mahindra Bank shares tank 13%; mcap erodes by ₹37,721 crore post RBI action
Rupee falls 6 paise to 83.39 against US dollar in early trade
Markets decline in early trade; Kotak Mahindra Bank tanks over 12%
An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
